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Exhibit 10.1
AMENDMENT TO STOCK OPTION AGREEMENT
THIS AMENDMENT TO STOCK OPTION AGREEMENT, entered into as of January 16,
1997, by and among Metro Global Media, Inc., a Delaware corporation formerly
known as South Pointe Enterprises, Inc. with an office at 0000 Xxxx Xxxxxx,
Xxxxxxxx, XX 00000 (hereinafter called the "Company") and Xxxxxxx X. Xxxxxxx,
having a mailing address at 0000 Xxxx Xxxxxx, Xxxxxxxx, XX 00000
(hereinafter called the "Optionee").
W I T N E S S E T H
WHEREAS, the parties entered into a Stock Option Agreement effective as
of January 1, 1993 (the "Stock Option Agreement"); and
WHEREAS, the parties desire to amend the Stock Option Agreement as set
forth herein.
NOW THEREFORE, in consideration of the covenants herein set forth, the
parties agree as follows:
1. Section 2 of the Option Agreement is hereby amended by deleting said
Section 2 in its entirety and by inserting to following, such that Section 2
shall be and shall read as follows:
2. Term of Option. This Option and all rights hereunder
shall expire on December 31, 2006, unless this Option shall have
sooner terminated as provided herein.
2. Section 5 of the Option Agreement is hereby amended by deleting said
Section 5 in its entirety.
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3. Except as expressly modified hereby, the Option Agreement is hereby
ratified and affirmed and remains in full force and effect as of the date
hereof.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the date first above written.
Metro Global Media, Inc.
By: /s/ T. Xxxxx Xxxxx
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T. Xxxxx Xxxxx, Treasurer
/s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx
